The decision to use artificial intelligence–powered robots in the fast food industry depends upon differences in costs and performance between humans and robots. State minimum wage laws are pushing the industry toward robots.
Most BRICS currencies are weak and getting weaker, and creating a new joint "BRICS currency" won't solve the problem. Joining together a bunch of weak currencies does not somehow create a strong currency.
The call for "price stabilization" was part of the recent Republican debate. Despite its attractive appearance, having the Fed try to "stabilize prices" is a very bad idea.
Just-wage theory tells us that an employer cannot reduce his workers' wages below some presumed "cost of living." Yet, that same employer can be permitted to reduce the worker's wage to zero if the worker has been replaced by a machine.
In a free society, political crimes like treason and "seditious libel" are few and far between. Under despotic regimes, on the other hand, political crimes multiply.
When Mises wrote that the fascists had "saved European civilization," he could have been describing Francisco Franco of Spain, who kept Spain from becoming a communist dictatorship.
